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Chapter 1: Q1. (page 49)
What is statistics?
Statistics is a field of study where the theories of mathematics can be applied with the help of data collected by researchers.
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Random-digit dialing. To ascertain the effectiveness of their advertising campaigns, firms frequently conduct telephone interviews with consumers using random-digit dialing. With this approach, a random number generator mechanically creates the sample of phone numbers to be called. Each digit in the phone number is randomly selected from the possible digits 0, 1, 2, . . . , 9. Use the procedure to generate five seven-digit telephone numbers whose first three digits (area code) are 373.
Stock prices. As part of an economics class project, students were asked to randomly select 500 New York Stock Exchange (NYSE) stocks from the Wall Street Journal. They were then asked to summarize the current prices (also referred to as the closing price of the stock for a particular trading date) of the collected stocks using graphical and numerical techniques.
a. Identify the population of interest for this study.
b. Is the variable being collected quantitative or qualitative?
c. Identify the data collection method used in this study.
d. Identify the sample of interest for this study.
e. Identify the experimental unit and variable of interest for this study.
Accounting and Machiavellianism. Behavioral Research in Accounting (January 2008) published a study of Machiavellian traits in accountants. Machiavellian describes negative character traits that include manipulation, cunning, duplicity, deception, and bad faith. A questionnaire was administered to a random sample of 700 accounting alumni of a large southwestern university; however, due to nonresponse and incomplete answers, only 198 questionnaires could be analyzed. Several variables were measured, including age, gender, level of education, income, job satisfaction score, and Machiavellian (鈥淢ach鈥�) rating score. The research findings suggest that Machiavellian behavior is not required to achieve success in the accounting profession.
a. What is the population of interest to the researcher?
b. What type of data (quantitative or qualitative) is produced by each of the variables measured?
c. Identify the sample.
d. Identify the data-collection method used.
e. What inference was made by the researcher?
f. How might the nonresponses impact the inference?
Inspection of highway bridges. All highway bridges in the United States are inspected periodically for structural deficiency by the Federal Highway Administration (FHWA). Data from the FHWA inspections are compiled into the National Bridge Inventory (NBI). Several of the nearly 100 variables maintained by the NBI are listed below. Classify each variable as quantitative or qualitative.
a. Length of maximum span (feet)
b. Number of vehicle lanes
c. Toll bridge (yes or no)
d. Average daily traffic
e. Condition of deck (good, fair, or poor)
f. Bypass or detour length (miles)
g. Route type (interstate, U.S., state, county, or city)
List and define the four elements of a descriptive statistics problem.
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